USDCHF Movement
For the 24 hours to 23:00 GMT, the USD rose 0.59% against the CHF and closed at 0.9789, after the US manufacturing PMI came in better than expected in October.
In the Asian session, at GMT0400, the pair is trading at 0.9762, with the USD trading 0.27% lower from Friday’s close.
The pair is expected to find support at 0.9716, and a fall through could take it to the next support level of 0.9669. The pair is expected to find its first resistance at 0.9805, and a rise through could take it to the next resistance level of 0.9848.
Moving ahead, Switzerland’s UBS consumption indicator for September, scheduled to be released tomorrow, will attract a significant amount of market attention.
The currency pair is showing convergence with its 20 Hr moving average and is trading above its 50 Hr moving average.
